President Donald Trump highlighted the rollout of government-backed “Trump Accounts,” revealing that over 7 million tax-advantaged investment accounts have been activated for children under age 18 following the program’s official launch on July 4.

Established under major tax legislation passed by Congress, the program provides $1,000 in seed capital from the U.S. Treasury for children born between January 1, 2025, and December 31, 2028. The funds are placed into private index-tracking accounts that compound until the beneficiary reaches age 18, at which point the capital can be accessed exclusively for higher education, starting a business, or purchasing a home.

While the U.S. Treasury Department stated that most eligible families receive their $1,000 deposit within one to two business days, several parents reported experiencing processing delays of up to four weeks to receive the initial funding. Federal officials addressed the backlog by comparing the processing timeline to standard tax refund verifications, maintaining that only a small fraction of applicants require specialized customer support.

Supporters of the initiative, including private sector brokerage partners and state political figures proposing matching state contributions, praise the policy as a transformational wealth-building tool designed to give all American children a stake in financial markets.

However, critics argue that the long-term investment model fails to address immediate early-childhood poverty and note that the enacting legislation included reductions to immediate social safety net programs such as Medicaid and SNAP.